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Germany’s Derby Cycle Plans IPO

Derby, which owns the Focus, Kalkhoff, Raleigh, Univega and Rixe brands, will launch an initial public offering on the Frankfurt Stock Exchange.

According to a listing on the Frankfurt Stock Exchange, the offering began Monday and runs through Feb. 2 with the first day of trading scheduled for Feb.4. The number of shares available will be 6.84 million offered between €11.5 and €15.5 per share. Of those shares, 1.5 million are new, the listing said.

The money raised from the IPO would help Derby capitalize on strong growth in the e-bike market in Germany and Europe, according to a press release. The release also said that proceeds from the IPO would be used to support Derby's forecast non-European growth.

Last year, the Derby Cycle group sold 430,000 bicycles and reported revenue of €173 million.

Derby’s frames are manufactured in Asia and bikes are assembled at the company’s headquarters in Cloppenburg. Almost two years ago, Derby entered the U.S. market by forming a Focus USA subsidiary. Kalkhoff e-bikes are also sold in the U.S. through importer Greenlight Bikes.